VP Bank (Switzerland) Ltd Signed up for Category 2 at the End of 2013, and Now Decides to Quit the US Program

VP Bank (Switzerland) Ltd Signed up for Category 2 at the End of 2013, and Now Decides to Quit the US Program

At the end of 2013, VP Bank (Switzerland) Ltd, the Lichtenstein-based private bank, took part in the US Program under Category 2, but after ‘thorough internal investigations and external expert opinions showed that the conditions for continued participation did not exist. VP Bank therefore withdrew from the US programme and the established provisions were reversed as of 30 June 2014’ the bank said during their H1/2014 reporting. They had set aside $3.3m (CHF 3m).